Tronox (NYSE:TROX) Shares Gap Up - What's Next?

Tronox Holdings plc (NYSE:TROX - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $5.10, but opened at $5.50. Tronox shares last traded at $5.53, with a volume of 792,840 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TROX shares. Morgan Stanley decreased their price target on shares of Tronox from $12.00 to $8.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. UBS Group dropped their price target on Tronox from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Truist Financial lowered their price objective on Tronox from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Barclays cut their target price on Tronox from $13.00 to $8.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. upgraded shares of Tronox from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $5.00 to $7.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Tronox currently has an average rating of "Hold" and a consensus target price of $8.31.

Tronox Price Performance

The firm has a market capitalization of $850.94 million, a P/E ratio of -17.32 and a beta of 1.40. The business's fifty day moving average is $5.48 and its 200 day moving average is $8.17. The company has a current ratio of 2.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54.

Tronox (NYSE:TROX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.17). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. The company had revenue of $738.00 million for the quarter, compared to analyst estimates of $745.96 million. During the same period last year, the firm earned ($0.05) earnings per share. The firm's revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts forecast that Tronox Holdings plc will post 0.49 EPS for the current year.

Tronox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.31%. Tronox's dividend payout ratio is currently -52.63%.

Insider Buying and Selling

In related news, Director Stephen J. Jones acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were purchased at an average cost of $7.17 per share, with a total value of $215,100.00. Following the completion of the transaction, the director now owns 30,000 shares of the company's stock, valued at approximately $215,100. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jeffrey N. Neuman acquired 10,266 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was bought at an average price of $4.89 per share, for a total transaction of $50,200.74. Following the purchase, the senior vice president now owns 10,266 shares in the company, valued at approximately $50,200.74. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Tronox

Several institutional investors and hedge funds have recently modified their holdings of TROX. Sterling Capital Management LLC lifted its position in Tronox by 832.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company's stock worth $38,000 after acquiring an additional 3,397 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Tronox by 763.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 9,127 shares of the company's stock worth $65,000 after purchasing an additional 8,070 shares during the last quarter. KBC Group NV boosted its stake in Tronox by 59.4% during the 4th quarter. KBC Group NV now owns 6,949 shares of the company's stock valued at $70,000 after purchasing an additional 2,590 shares during the period. CWM LLC grew its holdings in Tronox by 1,186.7% in the 1st quarter. CWM LLC now owns 10,731 shares of the company's stock valued at $76,000 after buying an additional 9,897 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Tronox by 1,070.2% in the 1st quarter. GAMMA Investing LLC now owns 11,257 shares of the company's stock worth $79,000 after buying an additional 10,295 shares during the period. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Tronox Company Profile

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.